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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back Below $4000
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Key Points:
- Gold is losing ground as traders take profits near historic highs.
- Silver tested historic highs but lost momentum and pulled back below $49.00.
- Platinum declined towards the $1630 level.
Gold
Gold moved back below the $4000 level as traders rushed to take profits after the strong rally.
In case gold settles below $3950, it will head towards the support level at $3890 – $3900.
Silver
Silver tested historic highs but lost momentum and pulled back below the $49.00 level.
A move below $48.50 will open the way to the test of the support at $47.00 – $47.20.
Platinum
Platinum moved lower as traders took some profits off the table amid broad pullback in commodity markets.
A successful test of the support at $1620 – $1625 will push platinum towards the $1600 level.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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